Gamco Investors INC. ET AL Has $429,000 Stock Holdings in Hubbell Inc $HUBB

Key Points

• Gamco Investors INC. ET AL reduced its stake in Hubbell Inc by 33.8%, selling 660 shares to retain 1,295 shares valued at $429,000.
• Several institutional investors have significantly increased their holdings in Hubbell, with the Teacher Retirement System of Texas boosting its position by 1,462.9%.
• Hubbell's recent quarterly earnings topped estimates, reporting $4.93 EPS, but the company's revenue of $1.48 billion fell short of analyst expectations.

Gamco Investors INC. ET AL decreased its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 33.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,295 shares of the industrial products company's stock after selling 660 shares during the quarter. Gamco Investors INC. ET AL's holdings in Hubbell were worth $429,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HUBB. Nuveen LLC purchased a new stake in Hubbell during the first quarter valued at about $213,283,000. Deutsche Bank AG boosted its holdings in Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after purchasing an additional 287,047 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Hubbell during the fourth quarter worth approximately $95,868,000. GAMMA Investing LLC increased its position in shares of Hubbell by 52,429.8% in the 1st quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock worth $636,200,000 after purchasing an additional 191,893 shares during the last quarter. Finally, PointState Capital LP bought a new stake in Hubbell in the fourth quarter valued at about $78,443,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on HUBB shares. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $445.00 to $490.00 in a report on Tuesday. Barclays increased their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $468.71.

Hubbell Stock Performance

HUBB stock traded up $4.89 during midday trading on Thursday, hitting $433.69. 237,261 shares of the company traded hands, compared to its average volume of 617,475. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The business has a 50 day simple moving average of $426.96 and a 200-day simple moving average of $385.66. The stock has a market capitalization of $23.05 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, equities research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell's payout ratio is presently 34.29%.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.